Mr. Jeffrey Ackert reports

CASCADE COPPER STAKES ADDITIONAL STRATEGIC CLAIMS AT THE CENTREFIRE COPPER-GOLD PROJECT NEAR DRYDEN, NW ONTARIO

Upon receiving the results from the maiden drilling program and revising the geological model, Cascade Copper Corp. has staked four claim blocks to cover an additional 1,411 hectares of prospective ground surrounding the existing claims. The Centrefire copper-gold project is located 40 kilometres from Dryden, Ont. The Centrefire project now covers approximately 3,922 hectares.

• Four claim blocks staked for an addition 1,411 hectares to cover highly prospective ground;
• Recent drill results and new interpretation expands discovery potential at Centrefire.

"With the highly encouraging results received from our maiden drill program at Centrefire coupled with our reinterpretation of the geological model, we thought it was prudent to expand our land position to cover additional prospective ground," stated Shannon Baird, vice-president of exploration with Cascade Copper. "We now believe that the mineralization at the Main Gossan zone is more aligned with a hybrid intrusion-related hydrothermal system and we've reviewed the geology and geophysics with this in mind and staked the ground accordingly. We believe the revised and expanded geological model represents a more substantial environment to host significant mineralization across the project than previously envisioned."

Project description

The 3,922-hectare Centrefire Cu-Au project is located in the Wabigoon greenstone belt in Northwestern Ontario, approximately 40 kilometres northeast of Dryden and approximately 35 kilometres southwest of Sioux Lookout. It has been minimally explored in the past with 10 short (less than 75 metres vertical depth) drill holes, five surface trenches, continuous channel sampling over multimetre intervals and geophysics, both surface and airborne including magnetics and EM surveys. Phelps Dodge explored the area between 1968 and 1970, and discovered several stacked intervals of copper, gold and nickel mineralization within the majority of drill holes. Recent modern work by Cascade has confirmed surface mineralization, reinterpreted and modelled the EM and magnetic geophysics, and defined priority drill targets from this. Recent surface sampling has returned values up to 2.86 per cent Cu, 2.84 g/t Au and 23.5 g/t Ag. Note: A recently completed phase 1 drill program returned multiple intervals of greater than 1.0 per cent CuEq* with drill hole CF-26-04 returning 1.56 per cent CuEq over 14.75 m.

* CuEq values are calculated using the following commodity prices and recovery factors: $5.00 Cu, $3,750 Au, $50 Ag and 85 per cent recovery for Cu, 75 per cent recovery for Au and 65 per cent recovery for Ag (values from similar sulphide-rich deposits), using those values the CuEq per cent equals Cu per cent plus Au g/t multiplied by 0.965074 plus Ag g/t multiplied by 0.01115.

New geological model

Trace element geochemistry from the recent analysis of drill core shows highly anomalous levels of tungsten (W) and bismuth (Bi), which act as exceptional thermal proximity indicators, suggests that Centrefire is more likely a high-energy intrusion-related/high-temperature magmatic-hydrothermal hybrid system. These types of systems are globally known to have significant size potential. Compared with the previous VMS (volcanogenic massive sulphide) model, these mineralizing systems do not have to be stratigraphically bound and can develop wherever hydrofracturing occurs and fluids infiltrate forming quartz-sulphide veining and stockworking cutting across multiple horizons while simultaneous migrating through permeable materials such as pillow selvages and breccias and depositing metals. The company believes that the disrupted magnetic signatures and areas of magnetic low response could indicate younger intrusive bodies and their resultant the effect of hydrothermal fluids on the local lithology causing demagnetization of the prominent magnetic features across the project.

Also considering the endowment of gold within the Wabigoon greenstone belt with Nexgold, Dryden Gold, Ashley Gold, and Kenorland actively exploring and developing projects in the area, the discovery potential within the expanded Centrefire claim block is quite high.

Outlook for the Centrefire project

A larger, follow-up phase 2 drill program is planned at Centrefire to test the along strike and depth continuity of the zones intersected in the phase 1 drill holes, targeting the potential deeper, higher-grade core to the system at the MGZ. Biogeochemistry, lidar (light detection and ranging) and airborne EM surveys are planned to help delineate further target areas, especially along strike and within the newly staked claims.

The technical information in this news release was prepared and approved by Shannon Baird, PGeo, a qualified person as defined in National Instrument 43-101. Mr. Baird is vice-president, exploration, of Cascade Copper and registered as a professional geoscientist with the Professional Geoscientists of Ontario as well as the Engineers and Geoscientists of British Columbia.

About Cascade Copper Corp.

Cascade Copper is an exploration-stage natural resource company engaged in the evaluation, acquisition and exploration of copper-based mineral resource properties. Cascade is focused on copper and gold, porphyry, and mesothermal gold deposits in British Columbia and intrusion-related, VMS and BIF copper, gold, and silver style deposits in Ontario. Cascade's priority is to conduct exploration using modern technology that includes 3-D inversion modelling of geophysics, lidar elevation models and AI-enhanced predictive modelling from all historic and modern data inputs. Drilling is planned on several of its copper-gold targets this year. Cascade has five projects, including the Copper Plateau copper-moly project, the Centrefire copper-gold project, the Rogers Creek copper-gold project, the Fire Mountain copper-gold project and the Bendor gold-tungsten project.

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